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Hungarian forint

The forint (Hungarian pronunciation: [??forint] , sign Ft; code HUF) is the currency of Hungary. It was formerly divided into 100 fill??r, but fill??r coins are no longer in circulation. The introduction of the forint on 1 August 1946 was a crucial step in the post-World War II stabilisation of the Hungarian economy, and the currency remained relatively stable until the 1980s. Transition to a market economy in the early 1990s adversely affected the value of the forint; inflation peaked at 35% in 1991. Between 2001 and 2022, inflation was in single digits, and the forint has been declared fully convertible. In May 2022, inflation reached 10.7% amid the Russian invasion of Ukraine and economic uncertainty. As a member of the European Union, the long-term aim of the Hungarian government may be to replace the forint with the euro, although under the current government there is no...

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wikidata.org 0 views · 2024-12-26 20:30:33